GASB standards:
Paper instructions:
Discuss the rationale for GASB requiring raw sets of financial statements, each with a different measurement focus and basis for accounting for government activities. Do you agree with this rationale or not? Explain why. From the third e-Activity, compare and contrast the GASB standards setting process and the process used by the FASB to set financial accounting standards. Which method do you think is the most effective? Explain.